To sell jewelry, it’s best to educate yourself as to the true value of karat gold jewelry. With the price for gold at historic highs, most gold buyers like GoldFellow® purchase gold jewelry for scrap. That means when you sell jewelry, the pieces are not polished and re-sold. Instead the gold jewelry gets melted, refined, and the gold content reclaimed for reuse. Scrap gold jewelry is strictly purchased according to its weight and gold content.
When you sell jewelry for scrap, the karat marking tells you the gold content of the piece. GoldFellow® considers the weight and gold content of a piece when computing its scrap value. For example, 14K gold jewelry contains 58.3 percent gold with the balance of the weight made up of other metals. When you sell jewelry for scrap, you are paid for portion of the jewelry which is actually gold.
GoldFellow®’s “What We Buy” page describes acceptable karat markings as well as those markings indicating costume, gold-filled or gold plated jewelry which have no scrap value. To sell jewelry, a manufacturer is required by law to stamp a quality mark and manufacturers name or hallmark into the metal. The quality mark indicates the purity of the gold and is indicated by the karat number or a percentage such as 18 K or .750 – both indicating the piece meets the legal standard for 18 karat gold. A manufacturers name or logo must also be stamped in the metal. When a consumer wishes to sell jewelry to a scrap gold buyer, the first things a buyer will look for are the quality mark and manufacturer’s hallmark.
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